The mid-size investment bank has named Kenneth Jacobs as CEO and chairman, reinforcing an institutional commitment to dealmaking since the death of legendary Wall Street wizard Bruce Wasserstein. Jacobs has been with the firm for more than two decades and touts an in-the-trenches approach to running the firm. He joined Lazard in 1988, was named a partner in 1991 and became deputy chairman in 2002.

Steven Golub, interim chief executive since Wasserstein’s death, will continue as Lazard vice chairman and chairman of its financial advisory group. Ashish Bhutani and Gary Parr will become directors and vice chairmen. Bhutani will continue as CEO of Lazard Asset Management. Parr is a deputy chairman. Steven Heyer, a director since Lazard’s initial public offering in 2005, will become lead director, a new board position.

While Jacobs’ ascension was widely anticipated, it will be interesting to see if other senior execs stay with the bank, given that the new boss is only 51 and will presumably be in the top spot for some time.

Pfizer Inc’s $68 billion deal to buy Wyeth gave boutique investment banking firm Evercore Partners a huge jump in the rankings of merger advisers, while Lazard Ltd got left on the sidelines.

One mega-deal was enough to catapult Evercore, which advised Wyeth along with Morgan Stanley, into the list of Top 10 advisers. Evercore now stands at No. 7 for the global and U.S. rankings, up from No. 24 and No. 16 in 2008, according to data from Thomson Reuters.

Morgan Stanley stands at No. 2 globally with 15 deals, and No. 3 in the United States with 10 deals, according to Thomson Reuters.

Pfizer had an army of advisers that included Bank of America, Merrill Lynch, Goldman Sachs, JP Morgan, Barclays and Citigroup. Bank of America Merrill Lynch leads the global league tables, while Barclays Capital leads in the United States, according to Thomson Reuters.

One name missing from today’s news was Lazard, which has been Pfizer’s most active adviser going back to the early 1990s, according Thomson Reuters.

Lazard has advised Pfizer on 15 deals, including its $89 billion purchase of Warner-Lambert Co  in 1999 and $61 billion acquisition of Pharmacia Corp in 2002, the data showed.

Lazard did not immediately return calls seeking comment.

Any regrets about the now-infamous birthday party, Steve?

That was the question asked by Fortune Magazine’s Andy Serwer at an intimate breakfast gathering at posh New York restaurant Per Se.

For those that have forgotten, Schwarzman’s 60th birthday party on Valentine’s Day in 2007, to which hundreds of guests were invited, featured British rocker Rod Stewart, comedian Martin Short, singer Patti LaBelle, two Harlem choirs and a marching band. It came to symbolize an era of excess — memories that some would now rather forget.  Months later, the financial crisis hit and Blackstone’s stock plummeted. It is currently about a quarter of its June 2007 IPO price.

“Obviously, I wouldn’t have wanted to do that and become some kind of symbol of that period of time — who would ever wish that on themselves? No one,” said Schwarzman, when asked if he’d do it again.

Lazard’s Bruce Wasserstein, being interviewed by Fortune alongside Schwarzman, chimed in:  “It was a great party”.

Schwarzman noted that his 61st birthday this year was muted. “61 is just fine. You notice it was quiet,” he said.